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Strategies & Market Trends : Roger's 1998 Short Picks
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To: MulhollandDrive who wrote (252)1/6/1998 5:40:00 PM
From: McNabb Brothers  Read Replies (5) of 18691
 
betty,

AOL price action today looks as if there was a short squeeze for an hour or so and it just ran out of gas! We are very heavily short in YHOO and AOL and will stay short, and feel as if we have seen the highs in both stocks now! I'm very negative on the markets and have even lightened up on some of our long term core holdings that we have held for many years! Another very disturbing thing that is playing out now is the Korean market, where it rallied on the news that George Soro's is thinking about investing a billion dollars! If one adds up what the IMF and other world banks are talking about leading Korea, which is in the range of 60 to 100 billion dollars, George's billion does not add up to very much at all! It's not even a drop in the bucket, so why did Korea jump on such a statement? I would guess that Korea was due for a dead cat bounce and that's what caused it to bounce! Could George see the light at the end of the tunnel as a train coming and he is just trying to calm the world markets with statements such as the one he mentioned about investing in Korea? Never understood why he or anyone else would let everyone know before he made his position either in a particular Why would anyone invest in a country that is broke along with almost all of their companies also? Something does not add up IMO with George Soro's and his talking!

Hank
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